Industrial companies, old and new, are quickly learning that transforming into a digital enterprise is an essential step to survive and thrive. Even the most successful companies recognize that it’s not enough to simply make everything they do more efficient. They need to connect every aspect of their business and change the way their companies think and work. They need to put the customer experience first. And they need to become data driven.
By taking advantage of the rapid explosion of sensors, ultra-low cost connectivity, and data storage, together with powerful analytics of the Industrial Internet of Things (IIoT), organizations can improve their customer experience and create incremental revenue for themselves.
Customers are coming to expect not only best-in-class physical products from manufacturers, but also new ways to drive increased levels of productivity and business impact.
Source: Goldman Sachs Global Investment Research, John C. McCallum Research, TCG Advisors
Yet even established and well-run companies often underestimate the challenges in making this important “data-driven” transition in technology and business model.
- Industrial data is growing twice as fast as any other sector. Yet today, less than 3% of that data is tagged and used in a meaningful fashion.
- Datasets can be fragmented and siloed such that they can’t be used elsewhere in the business.
- Operational technology (OT) and information technology (IT) systems often operate separately, leading to duplication as the roles these functions play in organizations converge.
- Edge devices are not always connected, may be air-gapped due to privacy/regulatory/security implications, or may need to continue operating when the connection is temporarily unavailable.
- Diverse practices lead to performance variability as many of the best practices are used in some but not all parts of an organization.
Predix, the Industrial Internet Platform
Predix, the Industrial Internet platform, connects the physical and digital worlds so industrial companies can transform the way they do business. By combining information and intelligence, Predix delivers actionable insight into assets and operations as well as revealing new business opportunities.
This paper describes how GE has packaged its own capabilities and experience in digital industrial transformation, and in the process, assembled a powerful and comprehensive platform aimed at guiding customers through this transition.
So rather than taking on the entire burden, customers can now use Predix to build on its sophisticated infrastructure, and draw from its capabilities and the lessons learned from its industrial experts.